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Ron Smith urges lower assessment using federal housing price index; county cites basement finish and neighborhood sales
Summary
Ron Smith told the Elkhart County appeals board his 2014-assessed value should be adjusted by the Federal Housing Finance Agency housing price index to about $401,421; the assessor countered that basement finish was first recorded in 2019 and that neighborhood sales support a higher 2025 assessed value near $457,000.
Ron Smith appeared before the Elkhart County Property Tax Assessment Board of Appeals on April 21, 2026 to challenge his 2025 assessed value and presented an analysis using the Federal Housing Finance Agency housing price index (HPI) to justify a lower market estimate.
Smith said his house was completed in late 2013 and assessed at $191,600 in 2014 (the first full assessment year). Using the FHFA state HPI factors applied to his 2014 base, Smith’s spreadsheet produced a 2025 estimate of approximately $401,421; he told the board he considered that number a defensible, tangible measure that should be weighed against assessor adjustments.
County staff reviewed both the petitioner’s HPI calculation and assessor records. The assessor presented neighborhood sales and an average adjusted sale price of about $459,300 that supports a 2025 assessed value near $457,000. Staff also introduced prior property record cards (2016–2019) and said the county first recorded a finished basement area in 2019 (882 sq ft), which affects the assessment baseline. The assessor noted that if the 2019 starting point is adjusted by indexation the resulting figure could be higher than the current assessment (staff cited a working figure near $474,800 under one set of adjustments).
Smith acknowledged limitations in using the state HPI—specifically that the index does not distinguish finished from unfinished basement space—but said it provides a repeatable, transparent benchmark. County staff recommended the board weigh the HPI alongside the property’s assessed features and recorded sales history.
The board took testimony, asked clarifying questions about dates and baseline square footage, and closed the hearing. Members said they will review the record and notify the petitioner of their determination by mail.
